Fincantieri to Build Two New Ships for Norwegian's Oceania Cruises
The largest shipbuilder in Europe Fincantieri and the US Group Norwegian Cruise Line Holdings Ltd. signed a contract for the construction of two new generation cruise ships for the Oceania Cruises brand, with delivery scheduled respectively in 2022 and 2025, which will start the “Allura-Class”.The agreement has an overall value exceeding 1 billion euros.With about 67,000 tons and the capacity of accommodating approximately 1,200 passengers on board, these units will be the new flagships of Oceania Cruises future fleet…
Norwegian Cruise Line Profits Up
Miami-based Norwegian Cruise Line Holdings reported third-quarter ended September 30, 2018 profit of $470.4 million compared to $400.7 million in the prior year. The cruise operator said in a investor release that its total revenue increased 12.5% to $1.9 billion. Gross Yield increased 4.5%. Net Yield increased 4.0% on a Constant Currency basis, outperforming guidance by 50 basis points. Norwegian expects to generate record earnings in full year 2018 and has increased its outlook above the high-end of its previous guidance range.
Norwegian Joy is US Bound
Norwegian Cruise Line’s first ship custom-designed specifically for the Chinese cruise market will be repositioned to sail from the United States starting in 2019.The nearly 4,000 passenger cruise ship Norwegian Joy is slated to sail seasonally from Seattle to Alaska in summer 2019 before making voyages to the Mexican Riviera and Panama Canal from Los Angeles in winter 2019/2020.Built by German shipbuilder Meyer Werft in 2017, the 1,094-foot-long, 167,725 gt Norwegian Joy was designed with finishes and amenities tailored specifically to the tastes of Chinese guests.
The Cruise Industry Business Model Evolves
Shifting populations, desirable destinations and yes – economics – drive the cruise industry of tomorrow. Unlike the cargo side of shipping, the cruise business has seen a steadily upward trajectory, with steady growth over decades. The 2018 annual “State of the Cruise Industry” report from Cruise Lines International Association (CLIA) was projecting a count of 27.2 million passengers for 2018, showing a steady rise from the 19.1 million, the figure for the beginning of the decade, and a substantial increase from 25.8 million in 2017.
Nisomar Awarded First Launch Services Contract
The new data-driven maritime services company Nisomar confirmed a launch services partnership agreement with Norwegian Cruise Line Holdings for the 2017/18 cruise season in Chile. The agreement will see Nisomar South America provide launch services to the company’s Norwegian Cruise Line, Regent Seven Seas Cruises and Oceania Cruises brands across 10 Chilean ports including pilot embarkation/disembarkation, berthing assistance, liaison with local port authorities and service launches for each visit.
Norwegian Cruise Line Signs up for ShipServ
Cruise ship operator Norwegian Cruise Line Holdings Ltd. (NCLH) has signed on to use ShipServ, a platform for the marine industry that enables users to automate procurement processes and capitalize on spend management tools. NCLH operates 24 cruise vessels under three cruise brands: Norwegian Cruise Line, Oceania Cruises and Regent Seven Seas Cruises, the latter two of which have been ShipServ clients since 2010. Now NCLH chose to expand the use of the procurement platform to cover all of the group’s brands.
WFW Advises on Cruise Ship "Seven Seas Explorer" Delivery
International law firm Watson Farley & Williams (“WFW”) advised Crédit Agricole Corporate and Investment Bank (“CACIB”), SACE S.p.A. (“SACE”) and a syndicate of banks on the delivery of the cruise ship “Seven Seas Explorer” built by the Italian shipyard Fincantieri S.p.A. “Seven Seas Explorer” was delivered to Explorer New Build LLC, a wholly-owned subsidiary of Norwegian Cruise Line Corporation Ltd, on 30th June 2016 and will sail as part of the Regent Seven Seas fleet. The SACE-backed loan facility of US$374 million was used to partially fund the construction of the vessel.
Royals on the High Seas!
Regent Seven Seas Explorer is billed as the most luxurious cruise ship in the world. Her Serene Highness Princess Charlene of Monaco took the role of godmother. Dubbed as the ‘most luxurious ship ever built’, at a whopping cost of $450 million, Regent Seven Seas Explorer boasts one of the highest space ratios and lowest guest to cruise ratios in the history of cruising. Accompanied by her husband and Monaco's reigning monarch, Prince Albert II, the former Olympic swimmer took the role of godmother and cut a red velvet ribbon.
Norwegian Cruise Line, EMC Ink Internet Deal
EMC has entered a long-term strategic agreement with Norwegian Cruise Line Holdings to deliver a faster Internet experience and premium entertainment over satellite to meet the rising expectations of cruise passengers, with demands for home-like performance and content. EMC’s recent innovations put satellite connectivity on par with meeting these skyrocketing needs, enabling Norwegian Cruise Line Holdings brands to provide an exceptional quality of experience for their guests.
Cooking up Credible Cruise Credentials
Norway-based cruise operator Hurtigruten AS has developed its own unique formula for developing cruise talent. The practice is already paying handsome dividends. Fun, luxury, experiences — that’s what cruise operators sell, and by all accounts, it is selling well. With bookings up three years in a row, competition for skills and customers is up. Increasing in frequency, too, are cruise-company launches of the largest floating cities ever. Yet, steaming up alongside for a share…
Regent Seven Seas Refurbs Three Ships
Top luxury cruise line Regent Seven Seas Cruises says it's investing $125 million to renovate three of its ships. Beginning with Seven Seas Navigator (built in 1999) this spring, the public spaces and suites of the Regent fleet will be updated to match the style of the new Seven Seas Explorer, which is scheduled to launch this July. Regent says the update will provide guests with a consistent look and feel across all of the line's ships. The Seven Seas Voyager will be refit in late 2016 and Seven Seas Mariner in the spring of 2017.
Carnival Confirms Chinese JV Cruise
In an industry first, the Miami-based Carnival Corp. will develop a multi-ship domestic Chinese cruise brand with Chinese partners. Carnival, the world’s largest cruise company, formed a joint venture with China State Shipbuilding Corp., the largest shipbuilder in China, and China Investment Corp., a sovereign wealth fund with $740 billion in assets. Carnival Chief Executive Officer Arnold Donald formalized the accord Wednesday in a meeting in London with Chinese President Xi Jinping, who is on a state visit to the U.K., according to a statement released by Carnival.
Norwegian Cruise Line, Port of Seattle Ink 15-year Lease
The Port of Seattle signed a 15-year lease with Norwegian Cruise Line Holdings (NCLH) parent company of Norwegian Cruise Line, Oceania Cruises and Regent Seven Seas Cruises. The deal secures NCLH ships in Seattle for the full term of the lease and provides passenger volume guarantees estimated to bring $73 million dollars of revenue to the port. “We thank Norwegian Cruise Line for their commitment to Seattle and the Alaska cruise business,” said Commissioner John Creighton. “Cruise in Seattle means $440 million in annual economic impact for this region.
Former Norwegian Cruise Line CEO sues Virgin Group
The former chief executive of Norwegian Cruise Line Holdings Ltd sued Richard Branson's Virgin Group in federal court in Miami for $300 million on Wednesday over plans by the British billionaire to launch his own luxury cruise line. The lawsuit by Colin Veitch, who oversaw Norwegian from 2000 to 2008, claims that Virgin muscled him out of a joint venture to break into the industry with massive ships capable of carrying thousands of passengers and operating as floating resorts, according to court documents. (Reporting by Zachary Fagenson; Editing by David Adams and Eric Walsh)
Cruise Industry Executives to Hold Panel in Miami
The chief executives of the world's largest cruise companies will participate in a wide-ranging discussion on the health and future of the global cruise business at Cruise Shipping Miami 2015's State of the Industry session on March 16-19 at the Miami Beach Convention Center. The panel will be moderated by Richard Quest, CNN's foremost international business correspondent and presenter of "Quest Means Business" and the monthly "CNN Business Traveller" programs. The State of the Industry panel includes Arnold Donald…
Montague named Prestige Cruise President, COO
Norwegian Cruise Line Holdings Ltd. (Nasdaq:NCLH) announced today that Jason Montague has been named President and Chief Operating Officer of Prestige Cruise Holdings, Inc. effective today, following the resignation of Kunal S. Kamlani. Montague was instrumental in launching Oceania Cruises in 2002 and is widely regarded as one of the original co-founders of the company. "As we continue to refine the future organization, Jason stands out as a leader who is knowledgeable about the brands and is so passionate about them…
Madsen to Head Norwegian Cruise Line
Norwegian Cruise Line Holdings Ltd. announced today that Drew Madsen has joined the company as president and chief operating officer of Norwegian Cruise Line. Madsen brings more than 30 years of leadership experience in the hospitality and consumer products industry, most recently as president and chief operating officer at Darden Restaurants, Inc. Prior to Darden, Drew held leadership and marketing positions at James River Corporation and General Mills, among others. "Having delivered exceptional results during his tenure at Darden…
Horizon Names Hamlin EVP & COO
Horizon Lines, Inc. has announced that William A. Hamlin has been named Executive Vice President and Chief Operating Officer. In his new role, Mr. Hamlin will continue to report to Sam Woodward, President and Chief Executive Officer. Mr. Hamlin joined Horizon Lines in March 2011 as Senior Vice President of Operations. His responsibilities include ocean transportation services, inland transportation, terminals, equipment management, maintenance, network management, labor relations, security, safety and environmental.
Cruise With Confidence: Cruise Lines Prosper Despite Troubles
Cruise Lines shrug off tragedy, bad publicity, new regulations and a weak economy to post impressive growth. In the year since the Costa Concordia tragedy, the cruise industry has seen a raft of new regulatory initiatives; in part developed in conjunction with industry associations. Harmonization of multiple regimes is the new mantra for industry stake-holders. In late December, the Florida-based Cruise Line Industry Association (CLIA) announced a tie-up which will result in one worldwide voice for the industry.